Ripple Signs Agreement With Singapore-Based Payments Firm to Use XRP for Cross-Border Settlements

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Last Updated on July 27, 2022 by Bitfinsider

On-Demand Liquidity (ODL), Ripple’s XRP-powered cross-border payment product, will be used by a Singapore-based payment solution provider.

According to a new Ripple press release, FOMO Pay will use ODL to improve its cross-border treasury flows.

The fintech firm, founded in 2015, intends to use the cross-border payment product to gain constant access to liquidity for the euro and dollar, allowing for same-day settlements.

While Ripple is still embroiled in a dispute with the Securities and Exchange Commission (SEC), the FOMO Pay agreement is the latest in a string of international business collaborations.

Ripple collaborated with FINCI, a Lithuanian fintech firm, in March to use ODL to facilitate cross-border money transfers.

The San Francisco-based company announced in September that it was collaborating with Bhutan to develop a central bank digital currency (CBDC), and in November it collaborated with the Republic of Palau to develop a government-backed stablecoin and ease cross-border money transfers.

ODL is used by a number of companies, including Azimo, Novatti, FlashFX, iRemit, Tranglo, SBI Remit, and Pyypl.

At the time of writing, XRP was trading at $0.336397. In the last 24 hours, the 7th-ranked crypto asset by market cap has gained 0.11 percent.


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Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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